A Step-by-Step Guide
If you’ve been in the world of yoga for some time and went through teacher training, a logical next step is to open your studio. Still, starting any independent business is a big challenge, even for the most experienced business people.
There are a lot of obstacles along the way, but the results are more than rewarding. Today, more and more yogis are ready to spend money to practice in a modern, beautiful, welcoming studio.
Let’s take a look at the three most important areas to consider when creating one.
Choose a Location
The first and most crucial step is to find a property that is affordable and in the right area.
It would be best if you learned your demographic. Work out whether there are enough people interested in yoga in the location of your choice. Make sure that they can afford classes – after all, yoga isn’t cheap.
Residential communities might be your best option. People love the convenience and being able to take a quick walk to your studio. Alternatively, you could open in a business district, but check the type of people who work there.
Local Competition
If you found the perfect spot, but there are already three yoga studios in the area, you may be in trouble. Too saturated a market isn’t the best place for a startup.
So, either choose a place lacking a studio or make sure you bring to the table something that the competition doesn’t.
Explore their quality, space, and price. You could even take a class there and talk to the person who opened it. It will be easier to gauge if there’s room for more.
Determine a Budget
Startup costs and prices of real estate vary from one city to the next. So, first, check the possible value of your rent. Then budget in another few thousand dollars for the deposit on your lease.
Remember, most commercial contracts will require a commitment of 3 to 5 years and a deposit on first and last month’s rent.
Legal fees are another thing to keep in mind. These expenses will incur for the review of lease documents. Finally, you’ll need to take the price of mats and props.
Managing Money
We’ll be honest – you need to know what you’re getting into financially. Keep all expenses in mind: rent, paying staff, utilities, insurance, software, and paying yourself.
You can start by keeping costs low and managing aspects of the business by yourself, but don’t burn out in the process.
Moreover, there will be taxes associated with starting your business. Here you can find a tax lawyer ready to tackle these fees for you – remember though that it’s an additional cost.
The money will be the most stressful factor in opening your business. The point is, you will need a plan and stick to it if you want to make it work.
Design
Now we get to the fun part. By utilizing appropriate interior design practices, you’ll provide a more wholesome yoga experience. Nowadays, there are many trends to turn your studio into an oasis of relaxation. Consider the following fields.
Lights
The best possible scenario is finding a space with large windows and a lot of natural light. In that case, add a window film, as your students will desire privacy, too.
Otherwise, go for natural white LEDs and invest in dimmers so you can take advantage of different options in various parts of your practice.
Adding salt lamps and similar accessories is another fantastic way to make your studio more appealing.
Colors
When choosing a palette, consider the type of yoga you’re teaching. Vibrant colors work well for hot yoga and vinyasa, but Hatha and yin will ask for beiges and pastels.
Add a bit of turquoise to promote positive energy, too. If you have a website, match the palette for branding purposes.
Add Greenery
Plants add to the design and purify the air along the way, making them the ideal addition to your space. If you don’t want them taking up too much space, go for potted plants, such as cacti and lemon trees.
Extras
Leave some space for people to prepare for class. You could add refreshments – water and tea will do – and some snacks. Make sure there are lockers for people to leave their personal belongings. Throw in some motivational posters, and you’re good to go.
The Bottom Line
It takes a lot to start your yoga studio. The key lesson to take out is not to underestimate the needed amount of work.
So, you’ll need a plan and personal investment to make your journey successful. We hope that our quick guide gave you some ideas and pushed you in the right direction.
Planning is absolutely necessary to carry out any such projects. At Training.DrPrem.com, some niche-specific courses on planning await your favor.
Article Submitted By Community Writer
